Top 10 Finance Ltd Rex House, 4-12 Regent Street, London, SW1Y 4PE
Consumer Credit License Number CCL 657619/1 FCA Regulated
We are registered and comply with the Data Protection Act (1998). Registration No: Z2861884 Company registered in England number 06261373
Close Brothers Property Development Finance getting Close Brothers Development Finance, if you are looking for funding to develop property in England and Wales or Scotland Close Brothers have two offices that offer funding one is in London and the other is in Scotland that covers the Scotland area, unless you are an experienced property developer then you would not be offered finance, close brothers only offer development loans to what they would consider to be an experienced property developer with a past history of completed developments, the terms on offer from Close brothers would usually be 1-1.25 % as a commitment fee you will have to pay this within a predetermined number of days which will be shown on your offer letter, not this commitment fee is really refunded if you pull out after payment so you should be absolutely sure you will proceed with the loan before making payment, Interest payable for the loan is likely to be around 7 % pa with an exit fee of 1-2% of the projects gross development value you will also be required to pay their legal fees and for a surveyors report.
Close Brothers are not the only lender offering property development finance, over the last few years there have been a large number of new entrants offeringing terms for development finance, often these are more competitive on the overall package with interest rates equal to those charged by Close Brothers, but importantly no Exit fees, with these exit fees being charged on the gross development value and not the loan value they can make up a sizable chunk of you development finance costs, so it pays to shop around before committing to a loan.
UK Development Finance covers the whole of the UK and can get you quotes for your development finance from our lender panel who will not only lend to developers who are undertaking their first project but also experienced developers who are looking for greater flexibility from a lender and more competitive rates than those on offer from Close Brothers.
To get the ball rolling give us a call on 0800 138 6001 anytime 24/7 or you can talk to us on chat or complete the web form and we will give you a call at a time that is convenient to you.
Property Development Loans are not FCA regulated unless you intend to live in the property.
Following the acceptance of your application for a residential development loan, UK Development Finance will be here to help guide you through the rest of the process. This will include working with the lender or their solicitors on your behalf to ensure that the process is as straightforward and comfortable as possible.
At UK Development Finance, we have over 20 years of experience and are dedicated to providing you with the best service to undertake your residential development projects. If you are either inexperienced or a developer with a proven track record, get in touch with us today by filling out our online form, sending an email or having a chat with one of our customer service advisors to find out your options now.
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